Getting started with my financial journey

[u/Rackedup_00]

Currently 24 with 3k in checking, $2500 in E-fund, 1400$ invested in index funds in my acorns and 600$ in my taxable brokerage account with chase. 0 debt high interest debt with about 5k remaining for my car loan at 5% interest rate.

This is my current budget and spending every month can use any tips or things I should change or work on. I’m trying to maximize my money this year for the first time it’s been a rough couple years and finally have a good income and good foundation want to take full advantage.

6000$ monthly income after taxes

Bills/Needs

300$ Truist Car Loan 300$ T-Mobile bill 600$ Health insurance 100$ subscriptions 500$ food and gas Rent 900$

Total 2700$

Savings / Investments

400$ chase investing account 100$ acorns 1200 $ Emergency fund (until I have 6 months of expenses ) 600$ Roth IRA

Total $2300

Total Spend all together 5000$

Disposable income 1000$.

[u/Candid-Eye-5966]

Acorns and Chase are a waste of time. Transfer both to fidelity or vanguard. You can buy partial shares there too and you get a better platform for your future. Same with your Roth.

[u/fishshtick]

To maximize your money: Take that $500 you're putting in Acorn/Chase and reallocate to your emergency fund (bringing that to $1700/month). When you get to fully funded 6 months, focus on contributing to 401k/IRA (Roth wherever possible) and HSA (if eligible). Make sure you also have a debt payoff plan considering interest rates, type of debt, and time to payoff.

How come you're spending $300 a month on your phone bill?

[u/Rackedup_00 → u/fishshtick]

I currently live with my grandmother and pay for everyone’s phone as an extra contribution on top of what I pay for rent.